Understanding the Cost of Living in Bentonville, AR
Living in Bentonville, Arkansas, offers a unique blend of small-town charm and big-city amenities. However, it’s essential to understand the cost of living to make informed decisions about your financial future. Let’s delve into the various aspects that contribute to the cost of living in Bentonville, AR.
1. Housing Costs
One of the most significant expenses in any location is housing. In Bentonville, the average cost of a home is around $250,000, which is slightly below the national average. Renting a one-bedroom apartment can cost you approximately $800 to $1,000 per month, depending on the location and amenities.
| Home Cost | Rental Cost |
|---|---|
| Average Cost of a Home: $250,000 | Average Cost of Rent: $800 – $1,000 |
2. Transportation
Transportation costs can vary greatly depending on whether you own a car or rely on public transportation. If you choose to drive, the average cost of car insurance in Bentonville is around $1,200 per year. Gas prices are typically lower than the national average, around $2.50 per gallon.
For public transportation, Bentonville offers a limited bus service. A monthly bus pass costs around $50, and there are also taxi and ride-sharing services available.
3. Utilities
Utility costs in Bentonville are relatively affordable. The average monthly electricity bill is around $100, while natural gas costs are approximately $70. Water and sewage services are around $50 per month. These costs can vary depending on the size of your home and your usage patterns.
4. Groceries and Dining Out
Food costs in Bentonville are quite reasonable. The average cost of groceries for a family of four is around $600 per month. Dining out can be quite affordable, with a meal at a mid-range restaurant costing around $15 to $20 per person.
5. Healthcare
Healthcare costs can be a significant expense, but Bentonville offers a variety of options. The average cost of a family health insurance plan is around $1,200 per month. If you choose to use public healthcare, you may be eligible for Medicaid or other government assistance programs.
6. Entertainment and Recreation
Bentonville offers a variety of entertainment and recreational activities at reasonable prices. The city has several parks, a movie theater, and a variety of restaurants and bars. Annual memberships to local gyms and fitness centers can range from $300 to $600.
7. Taxes
Taxes in Bentonville are relatively low compared to other parts of the country. The property tax rate is around $1.50 per $100 of assessed value, and the sales tax rate is 6.5%. Additionally, there is a 1% county sales tax and a 1% city sales tax.
8. Conclusion
Understanding the cost of living in Bentonville, AR, can help you make informed decisions about your financial future. While housing and transportation costs may be slightly higher than the national average, the overall cost of living is quite reasonable. With a variety of entertainment and recreational activities, affordable dining options, and low taxes, Bentonville offers a great quality of life.
